PASADENA, Calif. (AP) — PASADENA, Calif. (AP) — Alexandria Real Estate Equities Inc. (ARE) on Monday reported a key measure of profitability in its first quarter. The results exceeded Wall Street expectations.
The Pasadena, California-based real estate investment trust said it had funds from operations of $392 million, or $2.30 per share, in the period.
The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of $2.28 per share.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had a loss of $11.6 million, or 7 cents per share.
The life science real estate company posted revenue of $758.2 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $749.5 million.
Alexandria Real Estate Equities expects full-year funds from operations in the range of $9.16 to $9.36 per share.
The company's shares have dropped 21% since the beginning of the year. In the final minutes of trading on Monday, shares hit $76.92, a fall of 34% in the last 12 months.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ARE at https://www.zacks.com/ap/ARE
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。